This Insurer Is Today’s Worst Stock in the S&P 500. Here’s Why.
1. Progressive's Q3 earnings of $4.45 miss the $5.04 consensus estimate. 2. Net premiums written rose 10% to $21.38 billion, below expected $21.73 billion. 3. A Florida policy capping auto insurance profits negatively impacted earnings significantly. 4. Progressive's stock dropped 9.2%, marking the worst S&P 500 performance. 5. Net income fell 48% year-over-year, indicating significant financial strain.